Credit/Private Debt
The plan disclosed private equity, private credit and real estate commitments at a board meeting today.
The commitment will help move the retirement system closer to its 30% non-core real estate target.
The plan disclosed commitments totaling $300 million at a meeting last month.
The plan also named finalists in its domestic large-cap value equity manager search.
The plan liquidated a global equity mandate and made $1.5 billion in total commitments in July.
The search is to potentially replace an incumbent manager due to performance concerns.
The pension plan committed $125 million to new and existing manager relationships last week.
The plan’s real estate committee received four investment recommendations on Wednesday and approved a commitment in May.
The plan expects to conduct an RFP for private debt managers for pacing purposes.
The plan has been discussing investing in private credit since the fourth quarter.